WAGGA WAGGA COUNTRY CLUB LIMITED ABN 36 001 045 156

ANNUAL REPORT 2014 - 2015 NOTICE OF ANNUAL GENERAL MEETING Notice is hereby given that the Annual General Meeting of the WAGGA WAGGA COUNTRY CLUB LIMITED to be held at the Club’s premises on Tuesday 15th December 2015 At 7.30 pm

Wagga Wagga Country Club Limited ABN 36 001 045 156

AGENDA 1.

To confirm the minutes of the last Annual General Meeting

2.

To receive, consider and adopt the reports of the Board of Directors.

3.

To receive, consider and adopt the Financial Statements of the company for the year ended 30 September 2015 and the auditor’s report thereon.

4.

To elect a Board comprising one (1) President, two (2) Vice Presidents, One (1) Captain, one (1) Vice Captain, one (1) Treasurer and four (4) other members.

5.

To vote on the motion detailed in the notice of motion below.

NOTE Members may only vote at the Annual General Meeting in person. Voting by proxy is not permitted.

NOTE Any member who wishes to nominate as a director of the club must do so in accordance with Article 21 of the company’s constitution. The Secretary should receive nominations seven (7) days prior to the date of the Annual General Meeting.

Page 2

Wagga Wagga Country Club Limited ABN 36 001 045 156

PRESIDENT’S REPORT 2015 As we go to print the Wagga Wagga Country Club should finish with a net profit of around $15,000 and depreciation of $150,000.00. So a very healthy trading year for our Club. The Board and management have undertaken many improvements ranging from the new transformer at a cost of nearly $50,000.00, cart paths $28,000.00, electronic scoring and on line booking system, new software and hardware $33,000, new windows in function area and much more. The greens staff undertook to aerate the fairways which is the first time this has happened and now we can see the benefits a few months later, this will continue to happen from now on and also help the bare patches as we move forward. I would like to thank all of our Board Members for the many hours which they put into working to help keep the Club a well-run organisation .The Club is well on the way to having a strong growth phase. To all of our sponsors who dip into their pockets, a big thank you our Club would not survive without your generous support. Thanks also to all of our debenture subscribers this is amazing and goes to show how much you love and enjoy your Club .Putting in your money to help our Club keep moving forward and progressing is a fantastic thing you have all done. Volunteers who help in all aspects from filling in divots to painting, fencing, gardening or running and helping at golf events. For all the help you give our Club a big thanks to all of you. To our staff thanks from all our members the Club is a very enjoyable safe place to visit because of your helpful friendly service. Brenton Morey and green staff you guys just keep the course in such wonderful condition. This is a credit to you and your ability and dedication, we can see the pride in your work come through in the presentation of the course every week .Congratulations. Fergie and Pro shop staff many thanks for all of the hard work and long hours you put into make our visit to play golf a most pleasant one. Also our office staff who come to work and perform their jobs in a very professional manner and keep the Club running like clockwork. John Turner and Andrew Dunstall who both just put in all of the time and effort to make the place work. It has been a great pleasure to work with you both .Thanks to you both for your dedication. Thanks to everyone who has helped me in any way. This is in case I have forgotten any one, thanks to all. Have a safe and very happy and Merry Christmas with your Family and Friends. Yours sincerely

Mark Meek President

Page 3

Wagga Wagga Country Club Limited ABN 36 001 045 156

DIRECTOR’S REPORT 2015 The Directors present their report on the Company for the year ended 30th September 2015. OBJECTIVES The Club’s objective is to be regarded as a friendly progressive club with the most picturesque golf course in country New South Wales and to provide golf and clubhouse facilities to members in the best possible condition. STRATEGIES The Club seeks to fulfil its objectives by: • Maximising the potential of the Golf Course as a picturesque layout in all seasons of the year. •

Developing the clubhouse as a preferred location for the member’s social activities and for suitable private functions.

•

Providing membership at a realistic and viable cost whilst attracting and retaining members in the club.

•

Ensuring that the Club’s activities are financially, socially and environmentally sustainable.

PRINCIPAL ACTIVITIES The principal continuing activity of the company is to conduct a Licensed Golf Club. DIRECTORS’ INFORMATION The names of the Directors as at the date of this report are: Special Responsibilities

Directors’ Meetings Attendance

Directors

Occupation

Mark Meek

Sales Representative

President - Greens Committee - House Committee - Finance Committee

10 of 10

Peter Lord

Businessman

Vice President - Greens Committee - House Committee - Finance Committee - Marketing Committee

10 of 10

Robert Van Delft

Sales Executive

Vice President - Greens Committee - Marketing Committee

5 of 8

Cole Levy

Accountant

Treasurer - Finance Committee - House Committee Page 4

7 of 10

Wagga Wagga Country Club Limited ABN 36 001 045 156

DIRECTOR’S REPORT 2015 (continued) Special Responsibilities

Directors’ Meetings Attendance

Directors

Occupation

Steve Childe

Sales Executive

Captain - Greens Committee - Match Committee

Justin Sweeney

Insurance Broker

Vice-Captain - Marketing Committee - Match Committee

Gregory Howick

Businessman

- House Committee - Finance Committee

9 of 10

Peter Seaman

Computer Technician

- House Committee - Finance Committee

9 of 10

David Good

Project Consultant

- House Committee - Finance Committee - Marketing Committee

6 of 8

Tom Curtis

Retired

- House Committee - Finance Committee

7 of 8

10 of 10

7 of 8

Details of Directors who retired or resigned during or since the financial year: Ashley Briggs – Retired 16.12.14 Matt Carroll – Retired 16.12.14

2 of 2 2 of 2

COMPANY SECRETARY Mr John Turner held the position of company secretary at the end of the financial year, he was appointed on 25.03.2014. Mr Turner has worked in the club industry for sixteen years. MEMBERS GUARANTEE The liability of each member in the event of the winding up of the Club is limited to a maximum of $20. The membership of the Club as at 30th September 2015 was: Members Junior Members Social Members Honorary Life Patrons TOTAL

Page 5

819 60 507 2 1388

Wagga Wagga Country Club Limited ABN 36 001 045 156

DIRECTOR’S REPORT 2015 (continued) AUDITORS INDEPENDENCE DECLARATION A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is included in this annual report.

Signed at Wagga Wagga this 27th day of November 2015 in accordance with a resolution of the Board of Directors.

DIRECTOR

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Wagga Wagga Country Club Limited ABN 36 001 045 156

DIRECTOR’S DECLARATION The Directors of the Company declare that: (a)

(b)

the financial statements comprising the Statement of Financial Position, Statement of Comprehensive Income, Statement of Changes in Equity, Statement of Cash Flows and notes to the financial statements; (i)

comply with Accounting Standards and the Corporations Act 2001; and

(ii)

give a true and fair view of the financial position as at 30th September 2015 and performance for the year ended on that date of the Company;

In the Directors’ opinion there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors.

Dated: 27th day of November 2015

DIRECTOR

AUDITORS INDEPENDENCE DECLARATION To the Directors of Wagga Wagga Country Club Limited I declare that, to the best of my knowledge and belief, during the year ended 30th September 2015, there have been: (i) (ii)

no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and no contraventions of any applicable code of professional conduct in relation to the audit.

ADAMS KENNEALLY WHTE & CO Chartered Accountants WAGGA WAGGA

John W. Mason Partner

26th November 2015

Page 7

Wagga Wagga Country Club Limited ABN 36 001 045 156

STATEMENT OF FINANCIAL POSITION AS AT 30TH SEPTEMBER 2015 Note

2015 $

2014 $

4 5 6 7 8

201,412 153,412 43,201 17,848 29,309 445,182

47,749 38,715 29,997 17,779 29,438 163,678

9

1,454,497 1,454,497 1,899,679

1,272,074 1,272,074 1,435,752

CURRENT LIABILITIES Trade and Other Payables Borrowings Provisions Other Total Current Liabilities

10 11 12 13

169,304 81,469 84,067 258,110 592,950

133,211 33,223 70,013 179,229 415,676

NON-CURRENT LIABILITIES Borrowings Total Non-Current Liabilities

11

402,469 402,469

130,766 130,766

Total Liabilities NET ASSETS

995,419 904,260

546,442 889,310

EQUITY Retained Profits

904,260

889,310

CURRENT ASSETS Cash and Cash Equivalents Trade and Other Receivables Inventories Financial Assets – Investments Other Total Current Assets NON-CURRENT ASSETS Property, Plant and Equipment Total Non-Current Assets Total Assets

The accompanying notes form part of these financial statements.

Page 8

Wagga Wagga Country Club Limited ABN 36 001 045 156

STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30TH SEPTEMBER 2015 Note 2 2

Revenue Other Income Expenses Cost of Sales Employee Benefits Catering Poker Machine Maintenance Depreciation Expense Borrowing Costs Course Repairs and Maintenance Loss on Disposal Other Expenses Net Profit/(Loss) Total Comprehensive Income

2015 $ 2,409,802 9,304

(312,079) (778,252) (266,590) (6,242) (155,086) (27,567) (75,542) (5,186) (777,612) 14,950 14,950

2014 $ 1,944,748 -

(294,356) (741,626) (6,443) (142,405) (8,726) (148,266) (4,122) (619,333) (20,529) (20,529)

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30TH SEPTEMBER 2015

Retained Earnings Balance at beginning of financial year Profit/(Loss) for year Balance at end of financial year

2015 $

2014 $

889,310 14,950 904,260

909,839 (20,529) 889,310

The accompanying notes form part of these financial statements. Page 9

Wagga Wagga Country Club Limited ABN 36 001 045 156

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30TH SEPTEMBER 2015 2015 $ Inflows (Outflows)

2014 $ Inflows (Outflows)

2,626,543 9,304 (2,450,105) 4,124 (26,997) 162,869

2,145,065 (2,000,240) 4,949 (9,510) 140,264

4,000 (69) (333,086) (329,155)

(4,370) (311,858) (316,228)

Cash flows from financing activities Proceeds from borrowings Repayment of borrowings Net cash provided by financing activities

348,699 (59,357) 289,342

24,691 (15,702) 8,989

Net increase/(decrease) in cash held Cash at the beginning of the financial year Cash at the end of the financial year (Note 16(a))

123,056 47,749 170,805

(166,975) 214,724 47,749

Cash Flows from operating activities Receipts from operations Donations and Bequests Payments to suppliers and employees Interest received Interest and other costs of finance paid Net cash provided by operating activities (Note 16(b)) Cash Flows from investing activities Proceeds from sales of property, plant and equipment Lodgement of investments Payment for property, plant and equipment Net cash used in investing activities

The accompanying notes form part of these financial statements. Page 10

Wagga Wagga Country Club Limited ABN 36 001 045 156

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2015 1.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Preparation The financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting Standards, including Australian Accounting Interpretations, other authoritative pronouncements of the Australian Accounting Standards Board and the Corporations Act 2001. The Company is a not-for-profit entity for financial reporting purposes under Australian Accounting Standards. The financial statements cover the Wagga Wagga Country Club Limited, including its Ladies Committee and Junior Golf Foundation sub-entities, as an economic entity. Wagga Wagga Country Club Limited is a company limited by guarantee incorporated and domiciled in Australia. The following is a summary of the material accounting policies adopted by the company in the preparation of the financial statements. The accounting policies have been consistently applied, unless otherwise stated. The financial statements have been prepared on an accruals basis and are based on historical costs modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities. The amounts presented have been rounded to the nearest dollar. Accounting Policies

(a)

Revenue Recognition Revenue from members related to the provision of golfing facilities, such as subscriptions, competition fees, green fees, competition and members levies, is recognised on a time proportional basis over the period that those services are delivered. Revenue from the sale of goods is recognised upon the delivery of goods to customers. Poker machine revenue is recognised at the time it is received. Other services revenue is recognised over the period that the services are delivered. Interest income is recognised on a time proportional basis over the period that it accrues. Other revenue is recognised when it is earned.

(b)

Property, Plant and Equipment Property, Plant and Equipment is carried at cost, less where applicable, any accumulated depreciation and impairment losses. Page 11

Wagga Wagga Country Club Limited ABN 36 001 045 156

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2015(Cont.) (c)

Impairment of Assets At each reporting date, the company reviews the carrying amounts of its assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the asset’s fair value (less costs to sell) and value in use, is compared to the asset’s carrying value. Any excess of the asset’s carrying value over its recoverable amount is recognised immediately in profit or loss unless the asset is carried at a revalued amount. Any impairment loss of a revalued asset is treated as a revaluation decrease. Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

(d)

Depreciation & Amortisation The depreciable amount of all fixed assets, (excluding freehold land) is depreciated over their useful lives to the Company commencing from the time the asset is held ready for use. Depreciable assets purchased before 1993 are depreciated on a diminishing value basis. All assets purchased subsequent to 1993 are depreciated on a straight-line basis. The depreciation rates used for each class of depreciable assets are: Class of Fixed Asset

Depreciation Rate

Buildings Improvements Plant and Equipment (e)

4% 2.5 - 30% 5 - 33%

Inventories Trading stock is valued at the lower of cost or net realisable value. Other inventories held for consumption by the company in the provision of services in the ordinary course of operations are valued at the lower of cost and replacement cost. Costs are assigned to inventories on a first in first out basis.

(f)

Taxation The Company is exempt from income tax.

Page 12

Wagga Wagga Country Club Limited ABN 36 001 045 156

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2015 (Cont.) (g)

Employees Leave Entitlements Provision is made for entitlements accruing to employees in respect of annual leave, rostered days off and long service leave when it is probable that settlement will be required. Employee benefits expected to be settled within one year have been measured at the amounts expected to be paid when the liability is settled including related on-costs. The basis of calculation of the benefits payable after twelve months approximates the present value of the expected future cash outflows to be made for those benefits. The provision for employee entitlements is shown as a current liability unless the company has an unconditional right to defer settlement beyond twelve months from balance date.

(h)

Cash and Cash Equivalents Cash and cash equivalents include cash on hand, at call deposits and short term highly liquid investments with periods to maturity of three months or less from the inception date which are subject to insignificant risk of change in value.

(i)

Receivables Receivables for goods sold and services performed represent assets for goods and services provided by the Club prior to the end of the financial year and were unpaid at 30th September 2015. Receivables are recorded at amounts due less any provision for doubtful debts.

(j)

Trade Creditors Accounts payable for goods and services represent liabilities for goods and services provided to the Club prior to the end of the financial year and which were unpaid at 30th September 2015. The amounts are usually paid within 30 days of recognition.

(k)

Financial Instruments Recognition Financial instruments are initially recognised when the related contractual rights and obligations exist. At recognition they are measured at fair value on settlement date including, for assets and liabilities not designated as fair value through profit or loss, transaction costs. Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm’s length transaction. Subsequent to initial recognition these instruments are measured as set out below. Financial assets at fair value through the profit or loss A financial asset is classified in this category if acquired principally for the purpose of selling in the short term or if so designated by management within the requirements of AASB 139: Recognition of Financial Instruments. Realised and unrealised gains and losses arising from changes in the fair value of these assets are included in the statement of comprehensive income in the period in which they arise. Page 13

Wagga Wagga Country Club Limited ABN 36 001 045 156

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2015 (Cont.) (k)

Financial Instruments (con’t) Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are stated at amortised cost using the effective interest rate method. Held-to-maturity investments These investments have fixed maturities, and it is the Company’s intention to hold these investments to maturity. Any held-to-maturity investments held by the Company are stated at amortised cost using the effective interest rate method. Available-for-sale financial assets Available-for-sale financial assets include any financial assets not included in the above categories. Available-for-sale financial assets are recorded at fair value or at cost when fair value cannot be reliably measured. Unrealised gains and losses arising from changes in fair value are recognised directly to equity through the statement of changes in equity. Once the asset is derecognised (by sale or otherwise) the cumulative gain or loss previously recognised in equity is recognised in the statement of comprehensive income. Interest receivable and Dividends on available for sale assets are recognised in the profit and loss. Financial liabilities Non derivative financial liabilities are recognised at amortised cost comprising original debt less principal payments and amortisation.

(l)

Comparative Information Where required, comparative information has been adjusted to conform with changes in presentation for the current financial year.

(m) Critical Accounting Estimates & Judgements The directors evaluate estimates and judgements incorporated in the financial statements based on historical knowledge and best current information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data, both externally and within the Company. No estimates or judgements have been made in the preparation of the financial statements which are likely to have a material impact on the information disclosed. (n)

New Accounting Standards Certain new Accounting Standards and Australian Accounting Interpretations have been published that are not mandatory for the 30 September 2015 reporting period. The company is of the view that none of the above new standards or interpretations will affect any of the amounts recognised in the financial statements, but that they may impact certain information otherwise disclosed. Page 14

Wagga Wagga Country Club Limited ABN 36 001 045 156

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2015 (Cont.) Note 2.

2015 $

2014 $

Revenue Sales of Goods Bar Sales Coffee Sales Meals

687,091 44,387 11,569

622,104 -

Services Members Subscriptions Competition fees Green fees Competition and Members Levy Functions & Room Hire Poker Machine Takings Commissions Rental Sponsorships

491,807 72,364 118,100 317,949 313,578 92,768 14,777 90,031 109,547

394,327 160,306 132,964 251,120 40,970 99,888 7,997 84,810 90,688

8,140 33,838

10,489 43,868

3,856 2,409,802

5,217 1,944,748

9,304 9,304

-

27,567 64,141 90,945 14,054 5,186

8,726 98,716 175,615 3,640 4,122

REVENUE AND OTHER INCOME

Other Revenue GST Rebate Other Interest Received Total Revenue Other Income Donations Total Other Income

3.

PROFIT FROM ORDINARY ACTIVITIES Net Profit has been determined after including:Expenses Finance Costs - Interest Depreciation - Buildings and Improvements - Plant and Equipment Provision for Employee Leave Entitlements Loss on Disposal

Page 15

Wagga Wagga Country Club Limited ABN 36 001 045 156

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2015 (Cont.) Note 4.

5.

CASH AND CASH EQUIVALENTS Cash on Hand Cash at Bank

7.

8.

9.

2014 $

51,660 149,752 201,412

23,792 23,957 47,749

153,412 153,412

39,415 (700) 38,715

15,637 1,664 75,561

600 109 14,586

43,201

29,997

17,848

17,779

29,309 29,309

29,170 268 29,438

51,522

51,522

Buildings and Improvements – at cost Less: Accumulated Depreciation

1,993,128 1,004,519 988,609

1,878,146 933,459 944,687

Plant and Equipment – at cost Less: Accumulated Depreciation

1,594,757 1,180,391 414,366

1,370,234 1,094,369 275,865

Total written down value

1,454,497

1,272,074

TRADE AN OTHER RECEIVABLES Trade Debtors Less: Provision for Doubtful Debts

At the end of the financial year the amount of trade debtors that were past due but no impaired was: $92,862. - 31 to 60 days - 61 to 90 - 91 + days 6.

2015 $

INVENTORIES Trading Stock

1(e)

FINANCIAL ASSETS - INVESTMENTS Held to maturity Investments

OTHER ASSETS Prepayments Accrued Income

PROPERTY, PLANT AND EQUIPMENT Freehold land – at cost

Page 16

Wagga Wagga Country Club Limited ABN 36 001 045 156

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2015 (Cont.) Note 9.

PROPERTY, PLANT AND EQUIPMENT (cont) Movement in the carrying amounts of Property, Plant and Equipment between the beginning and end of the current financial year:Freehold Buildings & Improvements Land $ $ Carrying amount at the beginning of the year

10.

11.

2015 $

2014 $

Plant & Equipment $

Total $

51,522

944,687

275,865

1,272,074

Additions

-

108,063

238,632

346,695

Depreciation Expense

-

(64,141)

(90,945)

(155,086)

Disposals Carrying amount at the end of the year

-

-

(9,186)

(9,186)

51,522

988,609

TRADE AND OTHER PAYABLES Current – Unsecured Trade Creditors and Accrued Expenses GST Payable

BORROWINGS Current Bank Overdraft Bank Loans – Secured Finance Lease Non-Current Bank Loans - Secured

414,366

1,454,497

154,440 14,864 169,304

112,908 20,303 133,211

30,607 50,862 81,469

13,093 20,130 33,223

402,469

130,766

1,040,131 859,548 1,899,679

996,209 439,543 1,435,752

Bank Overdraft and Loans are secured by a registered over the company’s land and buildings and a floating charge over all the assets of the company. Under the terms of the facility the lender may take possession of and sell the pledged assets in the event that the Company defaults. The Company did not default on its obligations during the year and no borrowing were in default at the end of the financial year. Carrying amount of non current assets pledged as security: First Mortgage – Land & Buildings First Equitable Mortgage – All other assets Page 17

Wagga Wagga Country Club Limited ABN 36 001 045 156

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2015 (Cont.) Note 12.

PROVISIONS Current Provision for Employee Leave Entitlements Expected to be settled 12 months Total Current Provisions

2015 $

2014 $

54,564 29,503 84,067

45,298 24,715 70,013

70,013 14,054 84,067

66,373 3,640 70,013

254,288 3,822 258,110

170,565 8,664 179,229

6,000 3,500 4,580 14,080

6,000 3,000 9,000

93,005 93,005

72,434 72,434

Movement in the carrying amount of provisions between the beginning and end of the financial year:Employee Leave Entitlements Provision Balance at beginning of year Additional Provision Balance at 30th September 2015 13.

14.

15.

OTHER LIABILITIES Current Subscriptions, Fees and Other Income in Advance Deposits

AUDITORS REMUNERATION For auditing the accounts For assistance with preparation of 2015 financial statements For assistance with preparation of 2014 financial statements

RELATED PARTY DISCLOSURES (a) Transactions with Director related entities: The Directors of the Club make purchases from the Club on the same terms and conditions as those available to other club members. (b) Key Management Personnel Compensation Short term employee benefits - Key Executives

Page 18

Wagga Wagga Country Club Limited ABN 36 001 045 156

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2015 (Cont.) Note 16.

2015 $

2014 $

CASH FLOW INFORMATION

(a)

Reconciliation of Cash For the purpose of the statement of cash flows, cash includes cash on hand, cash at bank and on short term deposit, net of outstanding bank overdrafts. Cash at the end of the financial year as shown in the Statement of Cash Flows is reconciled to the related items in the Statement of Financial Position as follows:Cash and Cash Equivalents Bank Overdraft

(b)

201,412 (30,607) 170,805

47,749 47,749

14,950

(20,529)

155,086 5,186

142,405 4,122

(114,697) 268 (139) (13,204) 27,923 (5,439) 78,881 14,054 162,869

(3,930) (268) (3,198) (1,582) 11,248 7,800 556 3,640 140,264

Reconciliation of Cash Flow from Operations with Profit for the Year Profit/(Loss) for the Year Non-cash items in Profit Depreciation Profit on sale of Property, Plant & Equipment Changes in Assets and Liabilities (Increase)/Decrease in Trade & Other Receivables (Increase)/Decrease in Accrued Income (Increase)/Decrease in Prepaid Expenses (Increase)/Decrease in Inventories Increase/(Decrease) in Trade & Other Payables Increase/(Decrease) in GST Payable (Net) Increase/(Decrease) in Income in Advance Increase/(Decrease) in Provisions Net cash provided by Operating Activities

(b) The Company has a bank overdraft facility with a $170,000 limit. The amount of the facility that was unused at 30 September 2015 was $119,416.07.

Page 19

Wagga Wagga Country Club Limited ABN 36 001 045 156

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2015(Cont.) 17.

FINANCIAL RISK MANAGEMENT

(a)

Financial Risk Management Policies The Company’s financial instruments are comprised of deposits with banks, accounts receivable and payable and bank loans payable. Bank loans are used to contribute to the funding of capital expenditure. Financial instrument assets are used to generate revenue. Risk management policies, including interest rate risk and future cash flow requirements are approved by the board of Directors. Financial Risk Exposures and Management The main risks to the Company is exposure to, through its financial instruments, interest rate risk and liquidity risk. Interest Rate Risk At 30th September 2015 the majority of bank debt is at a variable interest rate. The interest rate risk is unhedged other than to the extent that the risk is offset by interest bearing cash deposits held by the company. The interest rate risk on investments is managed with a mixture of fixed and floating rate deposits. Liquidity Risk The company manages liquidity risk by budgeting for and monitoring cash flows and ensuring that adequate funding is available to meet operating and capital requirements and to meet the principal reduction requirements on its bank loans. Credit Risk Exposure to credit risk is minimal. The majority of cash at bank and investments are held with major banking corporations.

(b)

Financial Instruments Net Fair Values The carrying values of all the company’s financial instruments approximate their fair values. Interest Rate Sensitivity Analysis At 30th September 2015 a change of plus or minus 1% in interest rates, with all other factors remaining constant, would have the effect of reducing or increasing respectively profit by an insignificant amount, with a corresponding inverse effect on equity. The company is not exposed to any material price risks.

Page 20

Wagga Wagga Country Club Limited ABN 36 001 045 156

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2015 (Cont.) 17.

FINANCIAL RISK MANAGEMENT (Cont.) Financial Instrument Composition and Maturity Analysis The table below reflects the undiscounted settlement terms for financial instruments of a fixed period of maturity as well as management’s expectations of the settlement period for all other financial instruments.

2015 Maturity Within 1 year $

1 to 5 years $

After 5 years $

Total Contractual Cash Flow $

Financial Assets Cash Term Deposits Trade Debtors Total

201,412 17,848 153,412 372,672

-

-

201,412 17,848 153,412 372,672

Financial Liabilities Trade Creditors Bank Loans & Overdrafts Total

143,927 94,023 237,950

214,344 214,344

224,442 224,442

143,927 532,809 676,736

After 5 years $

Total Contractual Cash Flow $

2014 Maturity Within 1 year $

1 to 5 years $

Financial Assets Cash Term Deposits Trade Debtors Total

47,749 17,779 38,715 104,243

-

-

47,749 17,779 38,715 104,243

Financial Liabilities Trade Creditors Bank Loans & Overdrafts Total

101,425 41,625 143,050

82,936 82,936

82,703 82,703

101,425 207,269 308,694

Page 21

Wagga Wagga Country Club Limited ABN 36 001 045 156

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2015 (Cont.)

18.

2015

2014

$

$

CAPITAL EXPENDITURE COMMITMENTS The Company had no capital expenditure commitments at balance date.

19.

CONTINGENT LIABILITIES The Directors are not aware of any contingent liabilities that existed at or have arisen since the end of the financial year.

20.

EVENTS OCCURING AFTER THE REPORTING PERIOD These financial statements were authorised for issue by the Directors on 27th November 2015. No event have occurred subsequent to 30 September 2015 that would have an effect on the amounts shown in these financial statements.

21.

MEMBERS GUARANTEE The entity is incorporated under the Corporations Act 2001 as a company limited by guarantee. If the company is wound up, the constitution states that each member is required to contribute a maximum of $20 each towards meeting any outstanding obligations of the company. At 30 September 2015 the number of members was 1,388.

22.

CAPITAL MANAGEMENT The Finance Committee of the Board of Directors controls the capital of the company to ensure that adequate cash flows are generated to fund day to day operations and required capital expenditure. The Finance Committee operates under policies approved by the Board. The Company’s capital consists of accumulated surpluses support by bank borrowings. There have been no changes to the strategy adopted by the Finance Committee to control capital since the previous year.

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Wagga Wagga Country Club Limited ABN 36 001 045 156

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2015 (Cont.) 23.

CORE AND NON-CORE PROPERTY Pursuant to Section 41J(2) of the Registered Clubs Act for the financial year ended on 30 September 2015:

24.

a)

The following property is core property of the Club: the clubhouse, golf course and other property;

b)

The Club does not hold any non-core property.

COMPANY DETAILS The registered office of the company is: Plumpton Road Wagga Wagga NSW 2650

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Wagga Wagga Country Club Limited ABN 36 001 045 156

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF WAGGA WAGGA COUNTRY CLUB LIMITED Report on the Financial Statements We have audited the financial statements of Wagga Wagga Country Club Limited, comprising the Statement of Financial Position as at 30th September 2015, Statement of Comprehensive Income, Statement of Changes in Equity, Statement of Cash Flows for the year ended on that date, a summary of significant accounting policies and other explanatory notes and the Directors’ Declaration. Directors' Responsibility for the Financial Statements The directors of the company are responsible for the preparation the financial statements that give a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as management determines is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on the financial statements based on our audit. We conducted our audit in accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control.

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Wagga Wagga Country Club Limited ABN 36 001 045 156

INDEPENDENT AUDITOR’S REPORT (continued) An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Independence In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence declaration required by the Corporations Act 2001, provided to the directors of Wagga Wagga Country Club Limited on 26th November 2015, would be in the same terms if provided to the directors as at the date of this auditor's report Opinion In our opinion, the financial statements of Wagga Wagga Country Club Limited are in accordance with the Corporations Act 2001, including: (a)

giving a true and fair view of the company’s financial position as at 30th September 2015 and of its performance for the year ended on that date; and

(b)

complying with Australian Accounting Standards and the Corporation Regulations 2001.

Dated this 3rd of December 2015 at Wagga Wagga NSW

ADAMS KENNEALLY WHITE & CO Chartered Accountants Wagga Wagga

John W. Mason Partner

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Wagga Wagga Country Club Limited ABN 36 001 045 156

DISCLAIMER: The additional financial information included with this annual report, being the Detailed Trading and Profit and Loss Account, does not form part of the audited General Purpose Financial Statements. Our statutory audit covers the amounts and disclosures included in the General Purpose Financial Statements and is not expected or required to cover the details of the descriptive classification of income and expenditure amounts shown in the Detailed Trading and Profit and Loss Account. While the books and records from which the Detailed Trading and Profit and Loss Account have been prepared have been subjected to the audit procedures applied in our statutory audit of the Company for the year ended 30th September 2015, we do not express an opinion on the Detailed Trading and Profit and Loss Account in and no warranty of accuracy or reliability is given in respect of the additional financial information contained in that statement. In accordance with our firm’s policy, we advise that neither the Firm nor any member or employee of the Firm undertakes responsibility arising in any way whatsoever to any person (other than the company) in respect of such additional financial information, including any errors or omissions therein, arising through negligence or otherwise however caused.

ADAMS KENNEALLY WHITE & CO Chartered Accountants

John W. Mason Partner

3rd December 2015

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Wagga Wagga Country Club Limited ABN 36 001 045 156

DETAILED TRADING AND PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30TH SEPTEMBER 2015. Notes

2015 $

2014 $

743,046

622,104

29,997 325,283 355,280 43,201 312,079 430,967

28,415 295,938 324,353 29,997 294,356 327,748

92,768 8,140 100,908

99,888 10,489 110,377

CONTRIBUTION – POKER MACHINES

6,242 7,891 14,133 86,775

6,443 9,236 15,679 94,698

KENO Commissions Less: Service Costs CONTRIBUTION/(LOSS) KENO

7,618 (6,517) 1,101

1,627 (4,353) (2,726)

313,578 (266,590) 46,988

57,870 (21,612) 36,258

TAB TAB Commission Less: Service Fees CONTRIBUTION/(LOSS) TAB

6,470 (19,300) (12,830)

7,849 (23,334) (15,485)

GROSS CLUBHOUSE CONTRIBUTION

553,001

440,493

HOUSE STATEMENT BAR TRADING STATEMENT Sales Less: Cost of Goods Sold Opening Stock Purchases Less: Closing Stock GROSS PROFIT – BAR TRADING POKER MACHINE OPERATIONS Net Takings GST Rebate Less: Service Costs Depreciation

FUNCTIONS & BISTRO Sales, Collections, Room Hire & Rent Less: Directs Costs CONTRIBUTION - FUNCTIONS

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Wagga Wagga Country Club Limited ABN 36 001 045 156

DETAILED TRADING AND PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30TH SEPTEMBER 2015 (Cont.)

GROSS HOUSE CONTRIBUTION brought forward LESS: HOUSE DIRECT EXPENDITURE Bar Wages Superannuation Workers Compensation Insurance Cleaning & Laundry Depreciation Interest Repairs, Maintenance & Replacements NET HOUSE CONTRIBUTION OTHER INCOME Members Subscriptions and Fees Competition and Tournament Fees Competition and Member Levy Green Fees Less: Commission on Green Fees Sponsorships Locker Hire and Cart Storage Rent Interest Received Other Income Affiliation Levy Donations TOTAL INCOME LESS: OVERHEAD EXPENDITURE Advertising, Subscriptions, Donations and Sponsorships Advertising WIN Television Affiliation Fees Audit and Accountancy Fees Bad Debts Bank Charges Bookkeeping Competition Catering and Promotions Computer Software Electricity and Gas Insurance Interest Amounts Carried Forward Page 28

2015 $

2014 $

553,001

440,493

278,818 26,306 5,264 67,078 58,583 8,331 57,746 502,126

254,401 21,632 4,242 46,855 61,827 8,699 57,572 455,228

50,875

(14,735)

491,807 68,469 290,150 118,100 (17,119) 99,343 42,358 47,673 3,856 29,788 27,799 9,304 1,211,528 1,262,403

337,966 160,188 251,120 132,229 (17,672) 88,942 39,145 27,137 4,444 39,562 56,362 1,119,423 1,104,688

38,653 31,881 31,368 14,080 2,330 10,747 39,387 12,493 7,918 68,650 31,125 3,013 291,645

18,567 39,357 26,691 11,495 500 9,360 12,644 8,674 76,890 37,134 28 241,340

Wagga Wagga Country Club Limited ABN 36 001 045 156

DETAILED TRADING AND PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30TH SEPTEMBER 2015 (Cont.) 2015 $

2014 $

Amounts Brought Forward

291,645

241,340

Loss on Disposal Licenses and Registrations Members’ Amenities Printing and Stationery and Postage Professional Retainer Rates and Water Charges Repairs and Maintenance Security Service Staff Training and recruitment Sundry Expenses Telephone Trophies & Prizes Wages and Salaries – Administration Superannuation Workers Compensation Insurance

5,186 6,771 13,464 14,526 26,431 58,374 1,329 6,093 2,104 38,099 20,034 68,292 142,584 13,401 2,691 711,024

16,657 15,947 25,248 45,761 8,819 14,212 2,477 14,774 14,146 38,154 157,971 13,380 2,822 611,708

289,804 27,340 5,472 5,476 13,357 79,239 38,514 88,612 547,814 1,258,838

272,044 22,198 3,803 18,204 97,084 32,978 71,342 1,860 519,513 1,131,221

Course Maintenance Wages Superannuation Workers Compensation Insurance Interest Petrol and Oil Repairs and Maintenance Fertiliser & chemicals Depreciation Consultancy TOTAL EXPENSES OPERATING PROFIT ATTRIBUTABLE TO CLUB OPERATIONS LADIES SUB-COMMITTE PROFIT - Schedule 1 JUNIOR FOUNDATION PROFIT - Schedule 2 NET PROFIT FOR YEAR

3,565

(26,533)

11,385

5,231

-

773

14,950

Page 29

(20,529)

Wagga Wagga Country Club Limited ABN 36 001 045 156

SCHEDULE 1 LADIES SUB-COMMITTEE STATEMENT FOR THE YEAR ENDED 30TH SEPTEMBER 2015

INCOME Competition, Tournament & Other Income Trading Table Sponsorship Sundry Income

EXPENDITURE Trophies and Vouchers Sundry Tournament Expenses OPERATING PROFIT ATTRIBUTABLE TO LADIES SUB COMMITTEE

2015 $

2014 $

3,895 2,513 10,205 1,690 18,303

1,842 2,572 1,746 2,820 8,980

1,765 5,153 6,918 11,385

3,284 221 244 3,749 5,231

SCHEDULE 2 JUNIOR FOUNDATION FOR THE YEAR ENDED 30TH SEPTEMBER 2015 INCOME Interest Received

EXPENDITURE Junior Funding OPERATING PROFIT ATTRIBUTABLE TO JUNIOR FOUNDATION

Page 30

-

773 773

-

-

-

773

Wagga Wagga Country Club Limited ABN 36 001 045 156

TREASURER’S REPORT 2015 I am pleased to report our financial result to members on behalf of your board as the treasurer of the Wagga Wagga Country Club for the 2015 year. The 2015 year saw a profit of $170,036 before depreciation. Allowing for depreciation of $155,086 the net profit for the year was $14,950. An increase of $35,479 on the prior year. Bar sales improved on the prior year, up 19.44% to $743,046, while purchases have only increased by $30,927 to $355,280. The bar gross profit has improved by 31.49% to $430,967. In essence income has increased by $121,000 and purchases by $31,000. This highlights the issues we had with stock control in prior years that were rectified toward the back end of last year. The gross profit percentage for the year was 58% as compared with 53% in the prior year. Poker machine turnover came back slightly after our large increase last year by 8% to $100,908 and netted $86,775. Function turnover has improved significantly on the prior with consistency of catering and strong bookings made by our staff. Functions continue to be an area that the board will monitor but I have no doubt the level of functions have contributed significantly to the overall bar result and GP. Wages as a percentage of sales remain a concern, however we are working on strategies to continue to improve this. Given the nature of the business it will be difficult to significantly reduce this percentage without continued growth in our top line revenues. The clubs cash position is improved compared to the same time last year and this will be further enhanced with receipt of the outstanding debtor from Optus, which is due in the very near future. It should be noted that this is exclusive of the funds held in debentures. The clubhouse is still tired, however we have made some improvements with new windows and PA system. We will continue to repair and improve as is deemed necessary. The balance of income from our operations increased by 8% to $1,211,528. The investment in cart paths has allowed far greater course access during the wetter months which has assisted the revenue growth. Other overhead expenditure increased by 16% to $711,024 and course maintenance costs increased by 5% to $547,814. Steps have been taken to tighten these costs and we will continue to monitor as the year progresses. A significant amount of improvements and investments in your club have been made during the year. The remaining funds of the bequest from Darcy O’Sullivan (originally $116,906) have been fully utilised during the year. The remaining funds were used to replace the transformer on course and complete some of our cart paths. I would like to take this opportunity to thank John Turner and his staff for their efforts over the past twelve months and look forward to seeing the continued growth and prosperity of the WWCC. Finally to Mark Meek, congratulations on your efforts and achievements as president.

Cole Levy Treasurer

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Wagga Wagga Country Club Limited ABN 36 001 045 156

CAPTAIN’S REPORT I’m pleased to submit my Annual Report by summa rising many activities that have occurred over the past 12 months. We started the year by hosting the Jack Newton Junior Gold Foundation in February, with probably the most accomplished field of junior talent ever to grace the Riverina. Thanks to everyone involved in nurturing our junior programs – that is ultimately our future! The March Pro Am saw capacity fields on both days, and we were fortunate in securing the elite of PGA players who travelled to compete at our Course. Being awarded the Best Regional Pro Am 3 years out of the last 5, surely must be a testament that we’re getting it right, so let’s keep fingers crossed for a big tilt at the 2015 announcements later next year. Thanks you to all of our wonderful Sponsors and the efforts of Chairman Ash Briggs and the Pro Am Committee should be heartily congratulated in delivering a tremendous result for the Club. Our other major fixture this year was the City of Wagga Open Tournament, which has now grown into one of the largest amateur tournaments held throughout Regional Australia. The future looks extremely promising with key sponsor Kilbrogan Trading announcing support for a further 5 years and my gracious thanks to both Peter and Janet for your unwavering support of the WWCC. I also wish to acknowledge the partnering from Golf NSW and the NSW Govt. and my thanks to the C.O.W. Committee for ensuring an outstanding tournament again this year. Another Club Championships has come and gone and congratulations go to our respective Champions: Club Champion : Mr. Mark Johnson B Grade Champion : Mr. Steve Neal C Grade Champion : Mr. Glen Diggins Veterans Champion : Mr Peter Zotti Junior Champion : Mr Bart Carroll Our Club sensibly made the quantum leap toward Electronic Scoring Systems, and whilst it must be remembered that we’ve only been operational since early October – there’s still a few bugs to sort out, but I feel that I share player sentiment in embracing future technology to conduct and manage all club competitions. The strategic insight of the Board to undertake construction of Cart Paths limited unplayable conditions to merely a few competition days in June, and further work will afford us even greater course exposure during the wetter months. The upcoming Member’s Golfing Calendar will see a lesser distribution of Blue Tees over White Tees, and I feel that the course is now offering a more ‘competitive feel’ than in past years. Player feedback also indicated a more adaptive balance, so I was more than happy to accommodate recommendations on competition setup, and I trust that our Members will appreciate that golf – particularly at the Wagga Country Club, definitely isn’t a perfect science. I really can’t ever recall seeing the Course in finer condition, and all Members need to fully acknowledge the efforts of our Course Superintendent Mr Brenton Morey and his outstanding team. Rob Van Delft and the Greens Committee are constantly overseeing the management and presentation of the course, and I witness first-hand what they do, and the results definitely speak for themselves.

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Wagga Wagga Country Club Limited ABN 36 001 045 156

CAPTAIN’S REPORT (cont.) With some fortunate rainfall for the Autumn through Spring months all-but guaranteeing a high degree of course sustainability for the next few seasons – Members can feel comfortable that the job doesn’t just stop there. Congratulations gentlemen, I truly applaud your abilities to make our game just that much enjoyable! I’d also like to thank the following people for their tireless efforts and personal commitment toward the betterment of the Club, and the staging and management of competitions: To my Match & Competition Committee: Sylvia Murphy, Chris Fox, Brian Harris, President Mark Meek together with GM John Turner. We always try to do the very best that we can in promoting and managing the game of golf. Thanks also to our Club Vice Captain – Justin Sweeney for the tireless work that you put into the Junior Program. To PGA Ian Ferguson, Jane, Brigit, Henry and Tony for the hard work that you do throughout the year. Thanks for staying patient – and keeping my head in the game. To our Scoring Gurus – Clare Slater and Marion Cooke, you have a tough job to do and I sincerely appreciate the role that you play in support of our competitions. Thank you for endless support that I receive from the Board of the Club and also our GM – John Turner, Operations Manager Andrew Dunstall and the Admin, Bar Staff and Catering Teams. I look forward every week to being at the Club and serving with the highest energy that one can, but my highest regard is always reserved for the Members of our Club, thank you for allowing me the opportunity of making your sport and your pastime, my absolute pleasure. …….. and remember that golf combines two of Australia’s favorite pastimes : Going for really long walks, and forever hitting something with a stupid stick! Cheers, Stephen Childe Club Captain

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Wagga Wagga Country Club Limited ABN 36 001 045 156

LADIES COMMITTEE REPORT The Ladies of the Wagga Wagga Country Club have welcomed a significant number of new members this year, with many of those being new to the sport. We need to acknowledge our Beginners coordinator, Louise Fox who works tirelessly with the newer players and encourages them to join the ranks of 18 holes. We have this year introduced two events specifically to encourage this progression from 9 holes to 18, which have both been very well received. The new computerised card and recording system recently introduced has made the collation of entries and results much simpler for the committee. As we all get used to the system and fully use its capabilities things can only improve further. Lady members have been kept informed through regular weekly emails of events, results and upcoming happenings being sent out by Secretary, Lyn Stewart. This has proved a valuable addition to other notifications sent out by the Club. Thanks to Lyn for this ongoing commitment. The Ladies of the WWCC have held several very successful and improved events throughout the year. In March the Sureway Classic was contested by a field of 77, with the winners coming from across the Riverina and beyond. Karen Miles took the trophy and Bernie McLean from Corowa was runner up, however many of our own ladies had success on the day. This field was a big increase on the inaugural event last year. Our guest player was former WWCC member, Tegan Purcell, who provided some interesting commentary as the ladies enjoyed their High Tea. With the continuing generous sponsorship of Sureway, we hope to increase numbers further in 2016. We note that our monthly, and annual, longest drive competition is also generously sponsored by Sureway. Pennant teams represented in two RLGA Zones this year, with some tough competition particularly from our southern opponents, and while the team in Zone 2 did reach the semi-finals, we relinquished the title held from the previous year. With increased interest in match play and pennant, we will have three pennant teams competing in 2016. Thanks to Lyn Stewart and Barb Aitken who co-ordinated the teams this year. Rose Bowl was fiercely contested against Wagga City Golf club. Although WWCC won Round one of the event, we lost to City Club in the return match. And so the trophy has temporarily left our clutches……after some years. We fully intend to return it to our possession in 2016. For the RLGA Championships held in Albury this year, seventeen of our ladies made the trip and several brought home prizes. Wagga Wagga Country Club brought home the ‘teams’ event. This was a great representation from the ladies of the club. October saw a much improved field contest the Kilbrogan City of Wagga. This was a very successful day and we thank Kilbrogan for their support. The ongoing sponsorship by Kilbrogan has allowed us to provide member benefits, such as mentoring days, increase prizemoney for our Club Championships, and attract more players to our open events. We are most grateful for their continued support.

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Wagga Wagga Country Club Limited ABN 36 001 045 156

LADIES CAPTAIN’S REPORT (cont.) Club Championships were again sponsored by Kooringal Mall, who have sponsored this event for some years. This sponsorship is returned to the Kooringal Mall through vouchers to be redeemed at various mall outlets. We thank the Kooringal Mall for their continued support. We also thank Janet Smith and Peter Lord of Kilbrogan for the additional sponsorship they provide for major winners of the Championships to make this event most worthwhile. A significant number of ladies now take to the course on Saturdays providing a very strong competition. With special days becoming more common, there is plenty of reason to join this lively band of women. I congratulate all those who have participated in golf this year and acknowledge those who have been successful in honour board and other events. Without your participation we have no ladies golf. On behalf of the Lady members, I extend thanks to John Turner and his staff, both greens staff and house staff. The way they undertake their duties ensures a great day’s golf and a great day out. Thank you one and all for your co-operation, application to duty and the friendly smile while you work. Our thanks to Ian Ferguson, for his invaluable assistance with beginners as well as his ongoing contributions to Ladies Golf, including the Ian Ferguson trophy which he has supported for some years. Thanks also to his staff, particularly Bridget, who goes to great lengths to ensure all the ladies are content Finally I extend a sincere thank you to all members of the Ladies Committee for their dedication and support over the past year. Trish Byrne Ladies Committee President

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Wagga Wagga Country Club Limited ABN 36 001 045 156

HOUSE REPORT The 2014 – 2015 year proved to be another busy year with plenty of member and private functions and increasing bar sales. The support of the members has been outstanding this year with amazing attendances to functions such as the Pro Am Dinner, Wine Appreciation Night, brilliant Members ‘Draw until it Drops’ evenings and the recent Punters Club evening just to mention a few. We have also seen a significant growth in major private function bookings for the Club and glowing reports are being received with many bookings coming from referrals. Our reputation for quality and service is a great credit to the staff and caterer. With an ageing Clubhouse it is inevitable that structural work is required and I am pleased to see the unsafe old steel frame windows in the Function Room be replaced by energy efficient double glazed windows that provide more light and a better visual presentation of the course and lake. Well done Geoff Byrne and Viewco on quality work. Speaking of energy efficiency it was good to see the replacement of the old outdated transformer with a large capacity unit that will serve the Club well into the future. Thanks to Glen Seymour and Chris O’Rourke for their assistance with that project. Expensive but absolutely critical improvement. Added to this was a well negotiated power supply deal negotiated by John Turner and Peter Seaman that will see our power costs cut by around 30% in 2016. Other improvements include items such as the purchase of a new dishwasher and the much sought after Courtesy Bus. The number of bookings for the bus have been pleasing however many members still forget it is available. This will change and we will see this as an integral part of the members’ facility allowing a relaxing visit at the Club without the worry of the trip home. This is now your “Plan B” so no excuses now, it’s yours, so use it. Our aging Poker Machines are gradually being replaced with a new machine being purchased each year. There has also been the introduction of some low cost second hand machines negotiated by the Secretary Manager as a good fill in. A lease has been negotiated with Optus for a period similar to the Telstra in which they will share the Telstra tower. A very handy income flow for the Club for the future. During the year we saw smoking rules change and our thanks to the members who are abiding by the new rules. These are statutory requirements and the Club tries to accommodate facilities for all members as best as possible. The credit to member’s cards has been well accepted with winner’s vouchers n credited to the cards and an added amount credited for the timely payment of subscriptions. With the new computer scoring system and the bar credits the Members Card is now an integral part of enjoying the Club and receiving the discounted bar prices. Our thanks to all members who have accepted the new system which takes our whole internal management system to a new level. A very big thank you to our wonderful bar and office staff. They are an absolute pleasure to work with and take great pride in our Club. You are simply the best.

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Wagga Wagga Country Club Limited ABN 36 001 045 156

HOUSE REPORT (cont.) To our Caterer, thank you for producing a very good product for the Club all year. Catering is a tough business and the comments, particularly from the functions, has been excellent. Congratulations to John Turner on a very sound year and I am very pleased to advise that we have been most fortunate to secure John on a new 3 year Contract. Thank you also goes to the House Committee, and fellow Board members, who have put in so much work to assist and guide the House matters so well. I finish the Report in the same vein as last year’s Report. For the House to move forward and encourage attendance by our Members and the Public we need to firstly at least maintain the building to an acceptable standard for the future members. Secondly we need to improve the facilities that will entice an increased patronage by members and the public. A successful business continually invests in its assets and our Club needs to follow suit. The wonderful support by Members with donations and Debenture Funds is continuing to build and I am confident that 2015 – 2016 will see great steps to prudent investment in the Clubhouse facilities. Please see John Turner regarding lodging Debenture Funds and assist us to provide the best facility possible. And remember. It’s Your Club. Make it your “Local”.

Greg Howick House Chairman

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Wagga Wagga Country Club Limited ABN 36 001 045 156

GREENS REPORT Firstly I would like to thank our Superintendent Brenton Morey for his continued commitment to our club. It is an absolute pleasure to work with Brenton in my role as Greens Chairman & I think the condition of the golf course speaks volumes in terms of his ability, leadership & dedication. Clearly it takes more than one person to deliver the quality of golf course we play on each week & I would like to recognize & congratulate all of our greens staff, Kyle Tuckett, Ross Cooke, Dean Hoare & Charlie Metcalf on the outstanding contribution they make, we are truly blessed with an amazing team. We also have a large number of members who volunteer their time & on behalf of the Board I would like to thank you for your ongoing support. Major capital investment in cart paths has helped us to ensure income flow during the wet months, this program will continue next financial year & I would expect the completion of all paths in the following year. The greens replacement program is still a high priority & it is projected that a green will be replaced in the next financial year. Our machinery replacement program is well underway & the efficiencies we are seeing, through reduced maintenance costs and downtime, will continue to put us in a better position in the future. Thankfully good rainfall has seen Lake Albert fill which should provide us with at least two years of water. Brenton & I have been researching an alternative water source for when the lake levels drop below pumping levels. Our research has determined that the best avenue is to source ground water on the course in the form of a bore. With the assistance of a water diviner we have identified a couple of potential sites to conduct a test bore. This is not a cheap project but it may provide the club with a more cost effective alternative than purchasing town water. Estimates suggest the cost of drilling a test bore at approximately $25k. During the next 12 months we will be having a few events to help fund this test bore & I would encourage all members to support these events. If you would like to know more about these fundraising events please come & speak to me. Finally I would like to thank the members for giving me the opportunity to be a board member of the Wagga Wagga Country Club. It is a great honour & something I am very proud to do. Rob Van Delft Greens Committee

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Wagga Wagga Country Club Limited ABN 36 001 045 156

VETERANS’ REPORT FOR 2015 The Vets can report a successful year for 2015 with close to 3000 rounds of golf having been played by our members. This includes single Stableford events, 4BBB, and 18 hole tournaments. Our weekly numbers have maintained a good average even though we faced a few Mondays during the winter where the weather wasn't particularly kind. Over 50% of the members of the Country Club are eligible to play Vets and we encourage more of you to play in the Monday 9 hole competition and enjoy socialising afterwards. We staged two 18 hole events during the year, March and September, with 85 and 90 players competing for excellent prize money with our major sponsor being Kilbrogan Trading. It was pleasing to note that the September event included golfers from eight different golf clubs. In October we joined with Junee Golf Club and staged a day of a Week of Golf. At this point it is relevant to thank our sponsors including major sponsor Kilbrogan Trading Co (again), Wagga Catering Service and Drummond Golf, Albury. A good number of our members have attended events at other clubs throughout the year as well, with several being among the prize winners. We played three novelty Mondays with big holes and players limited to three clubs. These proved to be quite popular. We have recognised the Pink and Blue cause (breast and prostate cancer) by running an ongoing raffle. Congratulations to Judy Curtis who is the 2015 winner of the John Whiticker Memorial Trophy (this is awarded for the highest average nett score for golfers who have played a minimum of 20 Monday events). Also congratulations to Peter Ziotti who is the 2015 Vets Champion. We should mention that Ian Watson has taken on the role of secretary for the next two years of the South West Zone of NSW Vets. Graham Mebberson will assist him. Monday 14th December is our Christmas lunch at which office bearers for 2016 will be elected. We will be welcoming the 2016 season by having a partly sponsored finger food and drinks evening at the club on Thursday 7th January. We acknowledge and appreciate ongoing improvements to the course and good work being done by ground staff. Finally as president I would like to congratulate my committee for all the hard work they did throughout the year in my absence you did a fine job of keeping things under control THANKS while a big thanks goes to the Club staff both in administration and “behind the bar” for their friendly approach, it was very much appreciated. Keith Noble President Page 39

Wagga Wagga Country Club Limited ABN 36 001 045 156

HONOUR BOARD RESULTS 2015 A Grade Champion

Mark Johnson

B Grade Champion

Steve Neal

C Grade Champion

Glen Diggins

Veterans Champion

Peter Zotti

Junior Champion

Bart Carroll

Eclectic Champion

Jarrod Meacham

City of Wagga Champion

Daniel Gale

Summer Cup

Chris Halls and Rob Halls

Men 4BBB Champions

Henry Brind and Gerard White

Mixed 4BBB Champions

Paul Coghlan and Cathy Haggar

Country Club Cup

Gerard Timothy and Paul Galloway Jnr

R L Smith Match Play - A Grade - B Grade - C Grade

Jarrod Meacham John Broster Darren Nelson

DR Tyrie Matchplay

Nigel Crooke

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Wagga Wagga Country Club Limited ABN 36 001 045 156

LADIES HONOUR BOARD RESULTS 2015 Women’s Champion:

Dianne Brown

Division 2:

Lisa Thomas

Division 3:

Sylvia Murphy

Primrose Hawthorne Best Scratch score:

Di Brown, Mel Cramp and Kim Robinson

Foursomes Champions: Scratch: Nett:

Lisa Glastonbury and Gemma Bromham Cathy Hogg and Heather Cramp

4BBB Champions:

Cathy Haggar and Mel Cramp Anne Goldsmith and Helen Nixon

Scratch: Nett:

4BBB Knockout:

Cathy Withers and Carmel Adamcewicz

Handicap Champions Div 1:

Muffy Smithson

Handicap Champions Div 2:

Barbara Aitken

Handicap Champions Div 3:

Anne Goldsmith

Veteren Champion:

Dianne Brown

Senior Champion:

Mervyn Lawson

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Wagga Wagga Country Club Limited ABN 36 001 045 156

Wagga Wagga Country Club 2014/2015 Financial Year: The Club would like to thank and acknowledge those Members who have contributed to the Club’s Donation & Debenture Fund. Donations: A & K Browne P Brunskill D & J Davis S Dwyer J Fairfield Smith P & A Goldsmith M Pereira J Trewin N Turner

Debentures: D & W Conkey T & J Curtis P & J Galloway P & A Goldsmith G & D Howick I & R Knight P Lord & J Smith G & C McAlister P & M McLoughlin P & J Seaman

Those Members wishing to contribute to the future of the Club please contact the Secretary/Manager, John Turner on 69 226 444.

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